EasTower Wireless Ceases Business Operations as a Result of an Inability to Raise Capital and Begins Exploring Change of Business

BOCA RATON, Fla., Jan. 12, 2023 (GLOBE NEWSWIRE) -- EasTower Wireless Inc. (“EasTower” or the “Company”) (TSXV:ESTW), announces that as a result of its inability to complete an equity or debt financing, it has been forced to cease business operations. The Company has negative cash flow and has been trying to raise capital to continue its operations and meet its obligations. To assist the Company with meeting its current working capital requirements and bridge the gap until a potential financing, EasTower’s founder and CEO, Vlado P. ‎Hreljanovic, had personally loaned the Company US$90,000 in October 2022 and USD$67,200 in November 2022 (both previously announced by the Company).

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